Greetings everyone and welcome to the second week of the steemit engagement challenge for week number 2. This week the academy focuses on the topic titled my experience investing in the crypto market. Below is my explanation in that regard.

**** Discuss your first experience investing in the crypto market. ****

My first experience investing in the crypto market was recorded early last year. I have no idea before that time about anything associated with the crypto market. So my first experience was when I joined the steemit platform. The market and how trade is been done was quite a bit difficult to understand. I started with the binance exchange for transactions I.e peer to peer transactions which took me a lot of time to understand how the entire process works.

My first investment was holding the steem token in my wallet and selling it as the price got higher. I did not know any such how to trade limit or margin or future trade so all I do is use the market order to sell when the price of the asset rises. I hold steem when the price was about #105 and I sold it when the price got to #200. That is the first investment I made and I found it very profitable.

**** What is your first investment in the crypto market and what drives you to invest in the crypto market? ****

The first investment I made in the crypto market is the steem token investment. When I got to know about the steemit platform, I only earn steem during the process so I normally transfer the steem to an exchange market where I trade it for other coins. When I saw the increment in the price of the asset I hold in the exchange platform within a little range of time, I was so happy and I started buying other coins from the steem I hold.

So the gain I had is what drives me into investing more in the crypto market. I used my unused money within that period to purchase some other coins I saw that will have future raises during that period.

**** Have you ever encountered any loss as a result of the instabilities in the crypto market? Discuss *****

Yes, the loss is inevitable when it comes to trading cryptocurrency. My portfolio was reading about $79 before the current dip but currently, it is reading below $40. This is a large difference which I am experiencing since I started my steemit journey. Over the year, once I notice the price of any asset going below what I bought, then I will immediately sell it to reduce losses.

I recall buying HIVE at the rate of $12 and before the end of that same day the price dropped down to about $9.5, I was so disturbed about the losses I have made in that investment because at that period I have no idea of when to buy and when to hold. I only sell when the price goes higher.

**** What crypto assets are you currently holding? Why did you invest in them? Please take a screenshot of your portfolio. ****

The crypto asset that I am currently holding are waves, bake, cake, BNB and EOS. You can also see them in the screenshot below which is taken from my binance exchange platform.

![IMG_20220729_045345.jpg](https://cdn.steemitimages.com/DQmQ7tmm7baWCSXoKvT2K318BaKe4vEwdgnYFfV3YXyNqNz/IMG_20220729_045345.jpg)

The above-named asset is the ones I am currently holding at the time of making this publication. I hold this token in a very small quantity because I believe that someday this token may rise beyond the price it is currently and when that is done I will make a little profit. So I believe in the project and I have faith that the asset will rise soonest.

**** As an experienced cryptocurrency investor, Do you believe in Holding or Trading cryptocurrencies? ****

To me, the trading asset is better than holding assets. I say so for the reason that trading helps you to gain more profit and experience whereas holding keeps your asset intact without any increment unless the price of the asset increases. So when you trade your asset, there are possibilities that you may gain or lose and at the same time, you will have an insight into how the market movement.

**** What's your advice to a newbie investing in the cryptocurrency market? ****

To all newbies investing in the cryptocurrency market, I advise that you always take into consideration the type of coins you want to invest in. Be certain that you make your research and also consult experts in the field to give you a financial overview of the coin. You also should try to invest only what you can lose because the crypto market is highly volatile and can cause high blood pressure in people who lose money in the process of their investment. So the points are

- Make research - Ask question - Be ready for the loss **** Conclusion ****

Crypto trading is highly very volatile and hence all those trading crypto assets should always be ready for whatever they may encounter. The crypto trade can make you rich and it can also make you poor all you need is to try.